28pc duty reimposed on rice import

Twenty-eight per cent duty has been reimposed on rice import to protect local farmers as Bangladesh witnessed bumper production in rice in last two seasons. ‘This year we have a bumper production in rice, thus to protect local farmers, 25 per cent customs duty and 3 per cent regulatory duty has been reimposed on rice imports,’ finance minister AMA Muhith on Thursday said while placing national budget for the fiscal 2018-19 before the parliament.He also proposed to continue zero duty in importing ingredients of agricultural sector including fertiliser, seeds and insecticides.Last year, the government reduced the import duty on rice to 2 per cent from 28 per cent to meet the shortfall of the staple as flash floods damaged production of boro rice in haor areas. The government data showed that the production of food grains in the just concluded financial yearstood 3.97 crore tones (up to April 2018)It projected 4.03crore tones of food grain production in the next financial year 2018-19. Muhith in his budget speech proposed 15 per cent customs duty and 10 per cent regulatory duty on locally produced starches, wheat, maize, potato and cassava.